Immersion (NASDAQ:IMMR) Announces Quarterly Earnings Results

Immersion (NASDAQ:IMMR) released its quarterly earnings results on Wednesday. The software maker reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.18), Zacks reports. The business had revenue of $292.03 million during the quarter, compared to analysts’ expectations of $425.00 million.

Immersion Stock Down 3.3%

Shares of IMMR stock traded down $0.20 during trading on Friday, reaching $5.74. The company’s stock had a trading volume of 354,098 shares, compared to its average volume of 351,672. Immersion has a one year low of $5.59 and a one year high of $8.15. The business has a fifty day moving average price of $6.32 and a 200-day moving average price of $6.64. The company has a market cap of $188.80 million, a price-to-earnings ratio of 2.07 and a beta of 0.89.

Institutional Investors Weigh In On Immersion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after buying an additional 44,112 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Immersion in the 2nd quarter valued at about $80,000. Quantbot Technologies LP increased its position in shares of Immersion by 212.3% in the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock valued at $356,000 after acquiring an additional 30,703 shares during the last quarter. Invesco Ltd. raised its holdings in Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after acquiring an additional 103,176 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

About Immersion

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.